Kotak securities down more than half day

Just a reminder really, no 1 need by far for active traders at least is stability. Don’t mind if new features take time.

There were outages lasting few minutes in the morning today. Now they say they have switched data centers.

Earlier full service brokers used to say that their platforms are stable compared to discount brokers and used to justify their high charges on this basis. Now they have also started going down so no point in paying high costs to them. Their research reports are available for free anyway in media

When upgrades happen or features are modified, few technical problems are bound to happen, you know that.

Perhaps, users can stop using the broker and use another broker until things are settled.

KS is now a discount broker. More discounted for F&O than Zerodha :grin:

@Gnome is enjoying. Laughing at everyone

Come on man, i am not laughing at you, i am laughing at the statement

Now how did you deduce i am laughing at a person from my reaction to these statements.

I know that. I was just kidding.:joy:

Is it a regular thing? I was planning to open an account with them but eventually ended up with finvasia. Thankfully not encountered these problems yet.

How is your experience with Finvasia?

Might have been some server issue with the satellite, or maybe because of some technical issue in the central network of Kotak Securities. Whatever the reason, the customers are the ones who suffered. How is Kotak trying to repay back or compensate for the loss they caused?

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They have reimbursed intraday losses (those who were unable to square off)

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As your trusted trading partner, we sincerely apologise for this predicament. We have reversed losses incurred by clients in MIS and Cover Order products where they could not square off the position on the same day. I have also recruited an external reputable system auditor to offer an RCA on the connectivity issue.

The Refinitiv team has been strongly held accountable, and they have assured us that all necessary steps are in place to prevent such scenarios going forward. There is nothing more important to us than ensuring that every customer has the very best experience with Kotak.

I would like to thank you for your patience throughout this time, and please accept my sincere apologies once more.

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Satisfactory. Mainly because technical glitches are comparatively less. Plus,0 brokerage :slightly_smiling_face:

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